Geely Technology plans to issue Huanghuali RWA tokens in Hong Kong, aiming to raise 100 million yuan.

According to TechFlow, on December 19, citing a report from Hong Kong Economic Journal, Geely Technology Group, a subsidiary of Geely Automobile, plans to tokenize rare huanghuali wood as tradable RWA (Real World Asset) tokens. Zhao Xiaobao, Geely Technology's chief representative in Hainan, stated that this move could provide financial support to industries facing cash flow pressures. Geely Technology intends to issue the first batch of tokens in Hong Kong in the coming months, aiming to raise 100 millions yuan.